A sharp fall in its net profit, slipping 25 in 2023 compared to the previous year. Aramco attributed the downturn to Lower Crude Oil prices and decreased production. The companys net income dropped from 161 billion in 2022 to 121 billion last year. Despite the challenges posed by declining oil prices, aramco will increase its dividend payments, providing a much needed financial boost to saudi arabia. Lets get more now from our middle east Business Correspondent sameer hashmi. With a big fall off in profit, why is it increasing its dividend . It its dividend . Is a steep fall compared to 2022. It is a steep fall compared to 2022. It is still the second best performance in terms of annual results at 121 billion. Two reasons why they increased the dividend pay out. Number one, Aramco Abbott is the main driver of the Saudi Arabian economy. Saudi owned entities own 19 of it and they rely heavily on that income to really find some these massive projects inside arabia. They tried to keep the
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julie: that s excellent. there were stories of some airlines that were, in fact, inflating costs. and then once they were called on it. thank god for the internet. it does hold these companies responsible for potential price gouging. there is also some warnings also for people using portable generators and carbon monoxide. a lot of these people will be losing electricity. that s nonetheless going the happen for those who don t evacuate. what are the warnings for floridians or anyone in the path of this storm? that s a killer as well. people don t realize these generators, if left inside, they can produce the carbon monoxide and suddenly they sum succumbed to it. that happened with regard to storms over the last several years and we ve come back in to the federal government, asked them to alert, give the extra warnings about the generators so people will beware and won t